Market Chatter: India's Fraud Office Recommends Probe Into Xiaomi's Local Operations
MT Newswires Live
8 hours ago
India's Serious Fraud Investigation Office (SFIO) has recommended a detailed investigation into Xiaomi (HKG:1810) over alleged irregularities in its business model and compliance with foreign investment rules, Reuters reported Wednesday, citing a government document.
The proposed probe will examine fund movements, beneficial ownership, and e-commerce arrangements, the report said.
Xiaomi did not immediately respond to MT Newswires' request for comment.
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